Sportsoul Co Beneish M-Score Historical Data
The historical data trend for Sportsoul Co's Beneish M-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Sportsoul Co Beneish M-Score Chart
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Sportsoul Co Annual Data
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Trend |
Dec18 |
Dec19 |
Dec20 |
Dec21 |
Dec22 |
Dec23 |
| Beneish M-Score |
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- |
- |
- |
-5.50 |
-2.25 |
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Sportsoul Co Quarterly Data
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Dec18 |
Dec19 |
Dec20 |
Jun21 |
Sep21 |
Dec21 |
Mar22 |
Jun22 |
Sep22 |
Dec22 |
Mar23 |
Jun23 |
Sep23 |
Dec23 |
Mar24 |
| Beneish M-Score |
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- |
-2.61 |
-2.39 |
-2.25 |
-2.23 |
Competitive Comparison of Sportsoul Co's Beneish M-Score
For the Leisure subindustry, Sportsoul Co's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Sportsoul Co's Beneish M-Score Distribution in the Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Sportsoul Co's Beneish M-Score distribution charts can be found below:
* The bar in red indicates where Sportsoul Co's Beneish M-Score falls into.
Sportsoul Co Beneish M-Score Calculation
The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.
The M-Score Variables:
The M-score of Sportsoul Co for today is based on a combination of the following eight different indices:
| M | = | -4.84 | + | 0.92 * DSRI | + | 0.528 * GMI | + | 0.404 * AQI | + | 0.892 * SGI | + | 0.115 * DEPI |
| = | -4.84 | + | 0.92 * 1.1494 | + | 0.528 * 1.5231 | + | 0.404 * 1.5502 | + | 0.892 * 0.9283 | + | 0.115 * 1 |
| - | 0.172 * SGAI | + | 4.679 * TATA | - | 0.327 * LVGI |
| - | 0.172 * 1.6277 | + | 4.679 * -0.027486 | - | 0.327 * 1.2689 |
| = | -2.23 |
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
| This Year (Mar24) TTM: | Last Year (Mar23) TTM: |
Total Receivables was ¥133.1 Mil.
Revenue was 157.896 + 41.685 + 102.295 + 85.363 = ¥387.2 Mil.
Gross Profit was 39.322 + -31.818 + 25.331 + 27.378 = ¥60.2 Mil.
Total Current Assets was ¥956.7 Mil.
Total Assets was ¥1,221.9 Mil.
Property, Plant and Equipment(Net PPE) was ¥145.3 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥56.9 Mil.
Total Current Liabilities was ¥150.1 Mil.
Long-Term Debt & Capital Lease Obligation was ¥4.6 Mil.
Net Income was 12.224 + -55.042 + 3.296 + 4.983 = ¥-34.5 Mil.
Non Operating Income was 0 + 0 + 0 + 0 = ¥0.0 Mil.
Cash Flow from Operations was -30.598 + 15.4 + -23.563 + 37.807 = ¥-1.0 Mil.
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Total Receivables was ¥124.7 Mil.
Revenue was 102.805 + 39.633 + 123.632 + 151.071 = ¥417.1 Mil.
Gross Profit was 21.124 + -6.105 + 41.301 + 42.469 = ¥98.8 Mil.
Total Current Assets was ¥1,004.0 Mil.
Total Assets was ¥1,232.8 Mil.
Property, Plant and Equipment(Net PPE) was ¥150.8 Mil.
Depreciation, Depletion and Amortization(DDA) was ¥0.0 Mil.
Selling, General, & Admin. Expense(SGA) was ¥37.7 Mil.
Total Current Liabilities was ¥115.1 Mil.
Long-Term Debt & Capital Lease Obligation was ¥7.9 Mil.
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1. DSRI = Days Sales in Receivables Index
Measured as the ratio of Revenue in Total Receivables in year t to year t-1.
A large increase in DSR could be indicative of revenue inflation.
| DSRI | = | (Receivables_t / Revenue_t) | / | (Receivables_t-1 / Revenue_t-1) |
| = | (133.064 / 387.239) | / | (124.71 / 417.141) |
| = | 0.343622 | / | 0.298964 |
| | = | 1.1494 |
2. GMI = Gross Margin Index
Measured as the ratio of gross margin in year t-1 to gross margin in year t.
Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.
| GMI | = | GrossMargin_t-1 | / | GrossMargin_t |
| = | (GrossProfit_t-1 / Revenue_t-1) | / | (GrossProfit_t / Revenue_t) |
| = | (98.789 / 417.141) | / | (60.213 / 387.239) |
| = | 0.236824 | / | 0.155493 |
| | = | 1.5231 |
3. AQI = Asset Quality Index
AQI is the ratio of asset quality in year t to year t-1.
Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.
| AQI | = | (1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) | / | (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1) |
| = | (1 - (956.714 + 145.335) / 1221.874) | / | (1 - (1004.012 + 150.789) / 1232.79) |
| = | 0.098067 | / | 0.063262 |
| | = | 1.5502 |
4. SGI = Sales Growth Index
Ratio of Revenue in year t to sales in year t-1.
Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.
| SGI | = | Sales_t | / | Sales_t-1 |
| = | Revenue_t | / | Revenue_t-1 |
| = | 387.239 | / | 417.141 |
| | = | 0.9283 |
5. DEPI = Depreciation Index
Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.
DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.
| DEPI | = | (Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) | / | (Depreciation_t / (Depreciaton_t + PPE_t)) |
| = | (0 / (0 + 150.789)) | / | (0 / (0 + 145.335)) |
| = | 0 | / | 0 |
| | = | 1 |
Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.
6. SGAI = Sales, General and Administrative expenses Index
The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.
SGA expenses index > 1 means that the company is becoming less efficient in generate sales.
| SGAI | = | (SGA_t / Sales_t) | / | (SGA_t-1 /Sales_t-1) |
| = | (56.923 / 387.239) | / | (37.673 / 417.141) |
| = | 0.146997 | / | 0.090312 |
| | = | 1.6277 |
7. LVGI = Leverage Index
The ratio of total debt to Total Assets in year t relative to yeat t-1.
An LVGI > 1 indicates an increase in leverage
| LVGI | = | ((LTD_t + CurrentLiabilities_t) / TotalAssets_t) | / | ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1) |
| = | ((4.559 + 150.064) / 1221.874) | / | ((7.863 + 115.084) / 1232.79) |
| = | 0.126546 | / | 0.099731 |
| | = | 1.2689 |
8. TATA = Total Accruals to Total Assets
Total accruals calculated as the change in working capital accounts other than cash less depreciation.
| TATA | = | (IncomefromContinuingOperations_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (NetIncome_t - NonOperatingIncome_t | - | CashFlowsfromOperations_t) | / | TotalAssets_t |
| = | (-34.539 - 0 | - | -0.954) | / | 1221.874 |
| | = | -0.027486 |
An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.
Sportsoul Co has a M-score of -2.23 suggests that the company is unlikely to be a manipulator.
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